Not
Having a Written Budget
Most SMB’s I have dealt with
do not have a written budget that
they follow on a monthly basis. As a business owner,
you are responsible, not only for
solving your client's issues and
developing solutions for them, but also for developing processes for your
business that will allow you to remain in business as a viable, healthy company that can serve them for years to come. A
written budget is the basis of this plan as without it, you are running your business blindly,
and it can be just as dangerous as driving your car down the road blindfolded.
Of course, you wouldn’t do that, but why
would you run your business blindfolded not having a budget to steer you to
make informed decisions. Most people are under the impression that developing a
budget is very difficult and that it can be constraining.
However, just the opposite is true. A proper budget is not a final say
but a guide to help your business operate efficiently. On months when you make
more money than budgeted you can allocate that money to other items, but on
months when you make less money you can make an informed decision as to what
areas to cut so that you can stay on budget.
How can you make good decisions when you don’t know where your money is
going? How can you maximize your money to prepare for the hills and valleys that
every Small or Medium business goes
through without a budget?
Are you interested in the solution? I have written this e-book to give you an insight into what I can help you with in your business by being a great bookkeeper for you. Please click below to download the ebook and you can find the solution plus 6 other mistakes that SMB's commonly make in their bookkeeping.
